When It Comes to Protecting Your Data, Hackers Are Only Half the Problem
Cybercrime has become a plague that is putting organizations in every sector at risk. Malware attacks have increased by 2,000% over the past decade – and the cost of cybercrime is expected to exceed $6 Trillion annually by 2021.
As much as a threat as hackers pose to your business, well-intentioned privacy laws are leaving companies as concerned with compliance as the crooks.
- The California Consumer Privacy Act, going into effect on January 1, 2020 will apply to nearly all companies that do any of their business in CA – and the fines for non-compliance are brutal; $7,500 per customer record.
- Violations of the GDPR, a European Union regulation that specifies standards for data protection and electronic privacy, can occasion fines of up to €20 million or 4% of the annual worldwide revenue of the preceding financial year, whichever is greater.
- HIPPA, GLBA, the Children’s Online Privacy Protection Act, the SEC Statement and Guidance on Public Company Cybersecurity Disclosures and a rapidly growing body of additional regulations now mandate compliance with cybersecurity standards.
- Senator Ron Wyden recently proposed legislation that would result in jail time for CEOs found to be negligent in their duties as data fiduciaries.
The only way to combat cybercrime in a world in which it has become an existential and ever-present threat in every industry and sector is to fight back with solutions – like those from ProtectedBy.AI. We are experts in delivering compliance with all relevant data-related laws and regulations, ensuring peace of mind to your executives, stakeholders and employees.